First Real Estate Investment Trust
First Real Estate Investment Trust (SES: AW9U) is trading at S$0.21, about ₹15 at today's SGD/INR rate, as of 25 Sep 2026, 5:06 AM ET. Indian residents can buy First Real Estate Investment Trust from India on Paasa under the RBI's Liberalised Remittance Scheme.
Quote
Today's low
S$0.20
Today's high
S$0.21
52 week low
S$0.20
52 week high
S$0.29
AW9U opened at S$0.20, closed previously at S$0.21, and has traded between S$0.20 and S$0.29 over the past 52 weeks.
About
First Real Estate Investment Trust (First REIT) is an investment trust established through a Trust Deed on October 19, 2006. It was initially formed with First REIT Management Limited (formerly Bowsprit Capital Corporation Limited) acting as the Manager and HSBC Institutional Trust Services (Singapore) Limited as the Trustee. The trust commenced trading on the Singapore Exchange Securities Trading Limited on December 11, 2006. Subsequently, on March 1, 2018, Perpetual (Asia) Limited assumed the role of Trustee, succeeding HSBC Institutional Trust Services (Singapore) Limited. As Singapore's inaugural healthcare-focused real estate investment trust, First REIT's mandate is to acquire and manage a diverse portfolio of income-generating real estate and related assets across Asia, primarily dedicated to healthcare or healthcare-related uses. Its portfolio, overseen by First REIT Management Limited, currently encompasses 20 properties spread across Indonesia, Singapore, and South Korea. These assets include a mix of hospitals (like the Siloam Hospitals chain), nursing homes, hospitality properties (such as The Imperial Aryaduta Hotel & Country Club), and retail components (like Lippo Plaza). Operationally, Indonesian hospital assets are managed by PT Siloam International Hospitals Tbk, a highly reputable healthcare provider and a subsidiary of PT Lippo Karawaci Tbk. The hospitality components, including The Imperial Aryaduta Hotel & Country Club and Hotel Aryaduta Manado, are under The Aryaduta Hotel and Resort Group, while retail centers such as Lippo Plaza Kupang and Lippo Plaza Buton are overseen by PT Lippo Malls Indonesia. In Singapore, Pacific Healthcare Nursing Home Pte. Ltd. and Pacific Eldercare and Nursing Pte. Ltd. manage the nursing homes at Bukit Merah and Bukit Panjang, respectively, with The Lentor Residence operated by The Lentor Residence Pte. Ltd. Sarang Hospital in South Korea is operated by an independent medical practitioner. Investing in First REIT provides exposure to Asia's expanding healthcare sector, a market poised for significant growth due to increasing life expectancy across Indonesia and the broader Southeast Asian region.
Key statistics
Avg. volume
1.34M
Market cap
S$434.44M
P/E Ratio
21.81
Price-to-sales ratio
4.51
Enterprise value
S$866.55M
Free cash flow yield
14.75%
Debt-to-equity ratio
0.96
Return on equity
3.96%
ROIC
4.95%
Beta
0.25
Dividend yield
9.85%
Last dividend
S$0.02
Financial overview
Revenue
S$92.49M
Earnings per share
S$0.01
Free cash flow
S$43.75M
Net profit margin
21.54%
Gross margin
87.49%
EBITDA
S$75.29M
Revenue growth
-9.51%
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This is not an investment recommendation
How to buy First Real Estate Investment Trust from India
Indian residents can buy First Real Estate Investment Trust shares through Paasa in four steps. Funds leave India under the RBI's Liberalised Remittance Scheme and the shares are held in your own name with Interactive Brokers.
Open a Paasa account
Complete digital KYC with your PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Add funds under LRS
Transfer INR from your Indian bank account. Your bank reports the remittance under the RBI's Liberalised Remittance Scheme and converts it to US dollars and then to SGD.
Search for First Real Estate Investment Trust and place an order
Find First Real Estate Investment Trust by name or by its ticker, AW9U, and choose an order type. First Real Estate Investment Trust trades 6:30 am – 2:30 pm IST; orders can only execute during that window.
Track holdings and download tax reports
Follow your First Real Estate Investment Trust position in SGD and INR, and use Paasa's capital-gains and dividend statements when you file your Indian return.
Read the full guide: how to invest in First Real Estate Investment Trust from India
Trading and taxes when buying First Real Estate Investment Trust from India
Trading and limits
- Trading hours
- 9:00 am – 5:00 pm SGT
- LRS limit
- $250,000Per financial year, under the RBI's Liberalised Remittance Scheme.
Tax for Indian residents
- TCS on remittance
- 20%Collected by your bank on LRS remittances above ₹10 lakh in a financial year. The TCS is adjustable against your income-tax liability.Adjusting TCS against your tax
- Capital gains in India
- 12.5% or slab rateGains on shares held for more than 24 months are long-term and taxed at 12.5%. Gains on shares held for 24 months or less are short-term and taxed at your income-tax slab rate.Capital gains explained
- Dividends
- Slab rateDividends are taxed at your slab rate in India. Singapore levies 0% withholding tax on dividends from resident companies. First Real Estate Investment Trust’s current yield is 9.85%.Dividend tax explained
- Transaction tax
- Singapore levies no stamp duty or transaction tax on listed equities.
- Estate or inheritance tax
- May applySingapore imposes no estate or inheritance tax on listed securities.Estate tax explained
Custody. Shares are held in your own name at Interactive Brokers, segregated from Paasa's own assets.
FAQs
Can Indian residents buy First Real Estate Investment Trust stock?
Yes. First Real Estate Investment Trust (AW9U) has been listed on the Singapore Exchange since 2007, in the REIT - Healthcare Facilities industry, and Indian residents can buy it through Paasa. You fund the account from your Indian bank under the RBI's Liberalised Remittance Scheme and the money is converted to US dollars and then to SGD. Shares are held in your own name at Interactive Brokers, segregated from Paasa's own assets.
How much does one First Real Estate Investment Trust share cost in rupees?
One First Real Estate Investment Trust share is S$0.21 — about ₹15 at an SGD/INR rate of 75.02 on 24 Sep 2026. Both the First Real Estate Investment Trust price and the rupee rate move during the day, so the rupee cost changes with them.
What are the LRS and TCS rules for buying First Real Estate Investment Trust from India?
Remit up to $250,000 per financial year under the RBI's Liberalised Remittance Scheme (LRS). Banks collect 20% tax at source on LRS remittances above ₹10 lakh in a financial year; the TCS is adjustable against your income-tax liability. FX and the LRS declaration are handled by your bank when you fund your account.
How are gains on First Real Estate Investment Trust shares taxed in India?
Singapore does not levy capital gains tax on the sale of shares, ETFs or REITs, so the tax is an India-side one. Gains on shares held for more than 24 months are long-term and taxed at 12.5%. Gains on shares held for 24 months or less are short-term and taxed at your income-tax slab rate. The gain is computed in rupees using the SGD/INR rate on the purchase and the sale date, so the rupee move counts alongside the First Real Estate Investment Trust price. Paasa issues a capital-gains statement for your return.
Does First Real Estate Investment Trust pay a dividend, and how is it taxed in India?
Yes. First Real Estate Investment Trust pays a dividend and the current yield is 9.85%; the last declared dividend was S$0.02 per share, about ₹1.52. Dividends are taxed at your slab rate in India. Singapore levies 0% withholding tax on dividends from resident companies. Paasa's dividend report lists the gross dividend and any tax withheld for each payment.
When can I trade First Real Estate Investment Trust from India?
The Singapore Exchange trades 6:30 am – 2:30 pm IST in Indian time. Orders can only execute during that window.
Is there estate or inheritance tax on First Real Estate Investment Trust shares held from India?
Singapore imposes no estate or inheritance tax on listed securities.
Are there transaction taxes when buying First Real Estate Investment Trust?
Singapore levies no stamp duty or transaction tax on listed equities.
Do I have to declare First Real Estate Investment Trust shares in my Indian tax return?
Yes. Foreign shares held on 31 March must be reported in Schedule FA of your Indian income-tax return. Paasa gives you a Schedule FA-ready statement listing your First Real Estate Investment Trust holding, its cost and its closing value.
How do I sell First Real Estate Investment Trust and bring the money back to India?
You sell during market hours (6:30 am – 2:30 pm IST) and the proceeds settle in SGD in your Paasa account. From there you can hold the balance, reinvest, or repatriate. Funds can be withdrawn in any currency to any bank account in your own name. Whether the sale is short- or long-term is decided by the 24-month holding period.